556 IOWA DEPARTMENT OF AGRICULTURE 



(f) Each member agrees that in the event the numbers pre- 

 paring for any month or months are such as to over-run or under- 

 run the probable demand for those months, that he will change 

 his feeding plans so as to market his cattle during such months 

 as the association shall designate. 



In other words, the association has got the information as to 

 the number of cattle on feed ; it has got men studying the condi- 

 tions which demand consumption, and if the association finds 

 that there are too many cattle coming in the month of June, say, 

 and the cattle planned to come in that month are going to flood 

 the market, then the association will notify the members to 

 change the supply to make the number of cattle coming in com- 

 parable to the supply and demand. 



(g) Each member agrees that if and when the members of the 

 association shall vote to establish a selling agency for handling 

 fed cattle at the central markets and elsewhere, he will appoint 

 such soling agency his sole agent to sell his cattle. But until 

 such agency is established each member shall be free to select 

 his own selling agent. 



(h) Each member agrees to authorize such selling agents as 

 shall sell his cattle to deduct from his returns and pay to this 

 association the established rate per head for the benefits derived 

 by him. 



Article 13 applies to local associations ; provides how they 

 shall be organized and who shall be members. 



Article 14 deals with the expenses and payments. 



Section 1 — All expenses of operation of this association shall • 

 be met by a fixed charge per head on the cattle fed and mar- 

 keted by the members, whether shipped to the central markets 

 or sold elsewhere, and by a fixed charge per unit or per cent on 

 cattle or supplies purchased thru the buying department. 



Section 2 — This fixed charge per head shall be paid directly 

 by the selling agent of each member to the association, and each 

 member's contract shall be understood to be an order on his 

 selling agent to pay this charge out of the proceeds of the sale. 



Article 15 — Savings, and Profits. 



Section 1 — After the year's expenses have been paid and an 

 adequate amount set aside to cover depreciation of property and 

 a special reserve set aside to cover unforeseen or extraordinary 

 expenses during the coming year, any balance shall go to a spe- 

 cial permanent reserve fund, and the per-head charge reduced for 

 the following year to an estimated amount to just cover operat- 

 ing expenses, any resulting deficit to be paid out of this reserve 

 fund. 



